A child's future depends on a good education and a solid financial plan to finance it. The plan should help meet the ever-increasing costs of post-secondary education, and also fit your lifestyle and goals for the future.

There are several ways to plan for your child's education including registered education savings plans (RESPs). Through Quadrus Investment Services Ltd., you have the option of choosing an individual or family RESP of third-party, brand-name mutual funds.

What is an RESP?

RESPs are registered education savings plans that permit savings to grow tax-free until the beneficiary is ready to go full-time to college, university, or any other eligible post-secondary educational institution. When the student withdraws money as an educational assistance payment , only the income is taxable. However, because the student typically has little other income, he or she effectively pays little or no tax on RESP income.